Common use of Application of Proceeds and Payments Clause in Contracts

Application of Proceeds and Payments. Any payments received at any time by Lessor or by Lessee from any insurer (including a Governmental Entity providing an indemnity in lieu thereof) with respect to an Event of Loss shall be applied in the manner specified in Sections 12(c) and (e) hereof. Subject to Section 11(f) below, any payments (other than insurance or such indemnity proceeds) received at any time by Lessor or Lessee from any Governmental Entity or other Person with respect to an Event of Loss will be applied as follows (after reimbursement of Lessor, Indenture Trustee and Owner Participant for their reasonable out-of-pocket costs and expenses):

Application of Proceeds and Payments. Any payments received at any time by Lessor or by Lessee from any insurer (including a Governmental Entity providing an indemnity in lieu thereof) with respect to an Event of Loss shall be applied in the manner specified in Sections 12(c) and (e) hereof. Subject to Section 11(f11(e) below, any payments (other than insurance or such indemnity proceeds) received at any time by Lessor or Lessee from any Governmental Entity or other Person with respect to an Event of Loss will be applied as follows (after reimbursement of Lessor, Indenture Trustee and Owner Participant for their reasonable out-of-pocket costs and expenses):

Application of Proceeds and Payments. Any payments received at any time by Lessor or by Lessee from any insurer (including a Governmental Entity providing an indemnity in lieu thereof) with respect to an Event of Loss shall be applied in the manner specified in Sections 12(c) and (e) hereof. Subject to Section 11(f) below, any payments (other than insurance or such indemnity proceeds) received at any time by Lessor or Lessee from any Governmental Entity or other Person with respect to an Event of Loss will be applied as follows (after reimbursement of Lessor, Indenture Trustee and Owner Participant for their reasonable out-of-pocket costs and expenses):